Mississippi Housing Development Opens with Help of $224K AHP Grant

June 14, 2018

GREENVILLE, Miss.--(BUSINESS WIRE)--Jun 14, 2018--Media is encouraged to attend a grand opening and check presentation to celebrate the completion of the Ed Gray Park, a 32-unit apartment community for very low-income residents, at 11:00 a.m., Friday, June 15, 2018, at 1500 Ed Gray Drive in Greenville. Planters Bank and Trust and the Federal Home Loan Bank of Dallas (FHLB Dallas) awarded a $224,000 Affordable Housing Program (AHP) grant to the Greater Greenville Housing and Revitalization Association for the construction of the apartment community, which provided gap financing for the affordable housing development.

FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions, like Planters Bank and Trust. AHP grants fund a variety of projects, including home rehabilitation and modifications for low-income, elderly and special-needs residents; down payment and closing cost assistance for qualified first-time homebuyers; and the construction of low-income, multifamily rental communities and single-family homes. In 2017, FHLB Dallas awarded $7 million in grants, of which, Mississippi received $1.5 million. In 2018, FHLB Dallas is making $14.4 million in AHP funds available. Recipients will be announced in October.